{"id":38709,"date":"2014-07-15T00:00:00","date_gmt":"2014-07-14T22:00:00","guid":{"rendered":"https:\/\/aebanca.es\/actualidad\/notas-de-prensa\/the-spanish-economy-will-grow-in-2014-at-a-rate-close-to-1-5-and-could-exceed-2-in-2015\/"},"modified":"2026-04-09T09:42:41","modified_gmt":"2026-04-09T07:42:41","slug":"the-spanish-economy-will-grow-in-2014-at-a-rate-close-to-1-5-and-could-exceed-2-in-2015","status":"publish","type":"notas-de-prensa","link":"https:\/\/aebanca.es\/en\/actualidad\/notas-de-prensa\/the-spanish-economy-will-grow-in-2014-at-a-rate-close-to-1-5-and-could-exceed-2-in-2015\/","title":{"rendered":"The Spanish economy will grow in 2014 at a rate close to 1.5% and could exceed 2% in 2015."},"content":{"rendered":"<ul>\n<li>The Spanish banking system, which has made significant progress in its restructuring and deleveraging, is in good condition to face the Asset Quality Review (AQR) and the ECB&#8217;s stress tests.<\/li>\n<li>The sector continues to face significant challenges such as the moderate growth in credit demand, high non-performing loans, capital requirements, and the compression of margins accompanying the extraordinarily low interest rates.<\/li>\n<\/ul>\n<p>The Spanish Banking Association (AEB) estimates, in its July Economic and Financial Report, that the Spanish economy meets the necessary conditions to enter the expansive phase of the cycle, so that real GDP growth could reach 1.5% this year and exceed 2% in 2015. Net job creation and the reduction in the active population are expected to cut the unemployment rate to around 23% next year. <\/p>\n<p>Likewise, it considers that the expansion of structural reforms aimed at achieving a more exhaustive (employment) and efficient (productivity) use of production factors would strengthen growth capacity and job creation, while accelerating the adjustment of pending imbalances: unemployment, public accounts, and private sector deleveraging.<\/p>\n<p>Monetary policy and advances in the Eurozone&#8217;s financial architecture are other decisive elements in the medium-term evolution of the Spanish economy. The AEB warns that liquidity injections could become stagnant in financial markets, with the risk of generating asset overvaluation, and reminds that credit expansion requires solvent demand and the implementation of profitable investment projects. Economic growth precedes credit expansion.  <\/p>\n<p>According to the AEB, the Spanish banking system, which has made significant progress in its restructuring and deleveraging, is in good condition to face the Asset Quality Review (AQR) and the stress tests prior to the start of ECB supervision from next November.<\/p>\n<p>The Banking Union ensures greater transparency and more homogeneous competitive conditions among entities across the Eurozone. Nevertheless, the sector continues to face significant challenges such as the moderate growth in credit demand, high non-performing loans, capital requirements, and the compression of margins accompanying the extraordinarily low interest rates. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Spanish banking system, which has made significant progress in its restructuring and deleveraging, is in good condition to face the Asset Quality Review (AQR) and the ECB&#8217;s stress tests. The sector continues to face significant challenges such as the moderate growth in credit demand, high non-performing loans, capital requirements, and the compression of margins [&hellip;]<\/p>\n","protected":false},"featured_media":0,"parent":0,"template":"","etiquetas-prensa":[868,929,916],"class_list":["post-38709","notas-de-prensa","type-notas-de-prensa","status-publish","hentry","etiquetas-prensa-credit","etiquetas-prensa-gdp","etiquetas-prensa-interest-rates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Spanish economy will grow in 2014 at a rate close to 1.5% and could exceed 2% in 2015.<\/title>\n<meta name=\"description\" content=\"Economic and Financial Report. 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